£100 Million Traded
Football Index announced on twitter £100 million has now been traded. This sounds like a massive amount, so I understand why they put it out there to make some buzz. However it really isn't if you compare it to some low- mid cap listed companies on a real stock exchange.
Also if we compare it to peer to peer gambling, I use Smarkets to bet. This isn't the biggest peer to peer betting site by any means if you compare it to the big boy Betfair. To give a couple of quick examples Everton v Southampton game today £2 million traded on that game alone. Chelsea v Liverpool £500,000 already and most money comes just hours before kick off. This is just one website not all bookies combined. also those figures are from just 2 games there are loads more games every day.
Keeping all this in mind. I'm going to say this very positive for us guys already on the index as early adopters. This says to me the index has along way to go and loads of room for more growth. The football index has no competition that I know of, and even is some comes along it will this have first mover advantage. Given the website is targeting gamblers and investors, it dipping into two pools on potential customers.
In summary £100 million sound pretty weak to me.
What does everyone else think and am I missing something i shouldn't in my analysis?
@Misto i fully agree! We should not forget that FI is still a very young company and a trading volume of 100 Million is quite good i think for a company which is on the market only since 2 or 3 years. Normally it takes much longer to get such a high volume IMO. We should all be happy that we discovered FI so early. The potential is extreme.
I was surprised at just how low this was. When they said they had paid £1m in divs I thought, what since new year? Just shows the level of inactive and small portfolio trader accounts
Still early days in a new market. I didn't trader although I knew about it for a long time because I expected them to go bust. I think 100 million is good for a new company. I think people will test and then gradually increase the bets. Give it a year and they'll be celebrating a billion imo. As long as the amount invested keep going up I'll hang around. Well done FI.